BoE Rules Out Near-Term QE Amid Ongoing Tightening Focus

According to recent statements from the Bank of England's deputy governor, Dave Ramsden, there is no expectation for further quantitative easing (QE) in the near future. The Bank continues its focus on quantitative tightening (QT), which involves reducing its balance sheet of government bonds accumulated during previous QE phases.

The BoE's decision earlier in September to keep the Bank Rate steady at 3.75% with plans to unwind existing bond purchases over several years suggests a hawkish stance from the Bank. Market pricing also indicates a lower likelihood of interest rate cuts, reflecting Ramsden's comments and the ongoing QT policy.

Market participants will closely monitor any further statements from BoE officials that could clarify the Bank's stance on interest rates and QE. This includes upcoming inflation reports and changes in the economic landscape that may prompt a shift in policy.